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v2.4.0.6
Net Income Per Share (EPS)
9 Months Ended
Sep. 30, 2012
Net Income Per Share (EPS) [Abstract]  
NET INCOME PER SHARE (EPS)
(4) NET INCOME PER SHARE (EPS)

ASC 260-10 “Earnings Per Share” requires the Company to calculate net income per share based on basic and diluted net income per share, as defined. Basic EPS excludes dilution and is computed by dividing net income by the weighted average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The dilutive effect of outstanding options issued by the Company are reflected in diluted EPS using the treasury stock method. Under the treasury stock method, options will only have a dilutive effect when the average market price of common stock during the period exceeds the exercise price of the options.

 

Calculations of Earnings (Loss) Per Share

 

                                 
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2012     2011     2012     2011  

Basic

                               
         

Net Income (loss)

  $ 247,147     $ 85,541     $ 474,877     $ (532,349
   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average common shares outstanding

    10,664,109       10,426,311       10,634,111       10,234,239  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Income (loss) per common share

  $ 0.02     $ 0.01     $ 0.04     $ (0.05
   

 

 

   

 

 

   

 

 

   

 

 

 

Diluted

                               
         

Net Income (loss)

  $ 247,147     $ 85,541     $ 474,877     $ (532,349
   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average common shares outstanding

    10,664,109       10,426,311       10,634,111       10,234,239  
         

Additional dilutive effect of stock options and warrants after application of treasury stock method

    21,034       57,080       20,867       0  
   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average dilutive shares outstanding

    10,685,143       10,483,391       10,654,978       10,234,239  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Income (loss) per common share assuming full dilution

  $ 0.02     $ 0.01     $ 0.04     $ (0.05
   

 

 

   

 

 

   

 

 

   

 

 

 

There were no dilutive effects of stock options for the nine months ended September 30, 2011, as the effect would have been anti-dilutive due to the losses incurred for the period.